We’ve reported on plenty of companies lately in the booming smart grid space, which helps track and optimize the electricity flowing from utilities to consumers. Here’s one more to add to the roster: Trilliant, a grey-bearded startup based in Redwood City, Calif.

Unlike most of its peers, Trilliant has plenty of history — about 22 years worth. That head start has helped give the 450-employee company time to build a significant lead. Today, it’s announcing 750,000 deployments, more than most of its competitors (SmartSynch, for one, recently boasted 125,000 deployments to me).

Trilliant is also ahead of the game in the number of devices it actually builds. Although saying “smart grid” can refer to a number of technologies, from superconductors to software, the bulk of startups seem to be working in Trilliant’s space, making intelligent metering devices that utilities install at customer sites, in order to better plan and coordinate electricity generation.

The meters themselves are made by big companies like General Electric and Itron. For the startups, there are components like communication chips, which are placed inside meters. The chips then help track energy consumption and give utilities a running report of usage, transmitted across a mesh network made up of all the meters. From that starting point, additional services can be added on.

The idea is to eventually synchronize customers and utilities to save both money. Because rates for electricity vary according to the season and time of day, customers that know when they’re being charged high rates can scale back their usage. In turn, lower usage can help the utilities avoid building expensive new generators or running old, inefficient ones.

Ideas for communicating this information to businesses and households vary, and most startups are still in the development stage. Among the devices Trilliant already has on hand are a light meter, placed where it can be easily seen by consumers, that shows whether rates for power are low or high; a thermostat connection that can automatically adjust heating or cooling according to prices; and integration for gas and water meters. With the devices already created, Trilliant has its eye on software next

What does it all mean, to consumers? Not much, for right now. The business case right now supports new meter installation, says Trilliant founder and CEO Bill Vogel, putting utilities in control. There’s a less clear case for trying to enlist consumers, who are used to just getting a monthly bill, whether it’s someone in a studio apartment paying $50 a month or a big business racking up hundreds of thousands of dollars yearly.

However, Vogel says there’s a shift happening in politics, driven by consumers concerned about global warming and other environmental issues. Consumer concern will eventually translate to political pressure on utilities to install devices like thermostat controls. Vogel says most utilities are ready and willing, but can’t justify the expense of installing unproven devices without a political push. “Like any good protector of assets, they’d like the public and the policy drivers to move first,” he says.

When that happens, several smart grid companies will likely take flight, generating big returns for their investors. Hence the flurry of fundings lately: $10.7 million for Ambient, $12.5 million for EMeter, $15 million for GridPoint, $17.4 million for Silver Spring Networks, and $20 million for SmartSynch. (Trilliant, for its part, has eschewed venture backing for the help of an unnamed strategic investor.)

Some movement has already been seen. Trilliant’s clients include Louisville Gas & Electric, and Hydro One, which an Ontario, Canada utility that has been especially aggressive at experimenting with new technology. And recently, both Duke Energy and Oncor announced big pushes to build smart grids in their territories. But, with the total market estimated at $45 billion, there’s a long way yet to go.